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Posted by on Jan 4, 2013 in Business, County Wide, Retail | 0 comments

Canadian pennies being phased out Feb 4, 2013

OTTAWA — In the Economic Action Plan 2012, the Government announced it would phase out the penny from Canada’s coinage system. To help consumers, businesses, charities and financial institutions to plan, a transition date of February 4, 2013 has been set after which the Royal Canadian Mint will no longer distribute pennies.

On this date, businesses will be encouraged to begin rounding cash transactions.

Click this link to view the Rounding Guidelines for cash payments: http://www.cra-arc.gc.ca/gncy/lmntnpnny/menu-eng.html.

From the Huron Chamber of Commerce, January 4, 2013